The prestigious Vishakapatnam – Chennai Industrial Corridor announced to Andhra Pradesh in the first budget of NDA government is proving to be a burden for the truncated state. The project was supposed to be executed in 70-30% by Asian Development Bank (ADB) and Andhra Pradesh government. ADB asked the state to come up with the detailed Project Report (DPR) of its share by this month end.
ADB will have an international industrial conference to attract investors to the corridor. However the state government is of the opinion that it can not invest in the project to the extent of 30% and is planning to negotiate with ADB to increase their stake by 10% more.
AP officials will explain to ADB about the financial position of the state in their next meeting and convince them. The state government is hopeful that they will agree to the proposal. Also as a part of this project, all the roads from Vishakapatnam to Donakonda will be expanded to four lane roads up to 184.5 Kms which will cost 3175 Crore
